Disney creates streaming video unit for digital future

LOS ANGELES (Reuters) - Walt Disney Co (DIS.N) said on Wednesday it had created a new unit for its streaming video and international businesses as the company retools its traditional media operation for a world rapidly embracing online video.

A screen shows the logo and a ticker symbol for The Walt Disney Company on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2017. REUTERS/Brendan McDermid

Kevin Mayer, the company’s chief strategy officer, was named chairman of the new division, which will oversee the upcoming ESPN+ digital offering and the launch of a family-oriented streaming service in late 2019, Disney said in a statement.

The move, effective immediately, comes as Disney is in the process of purchasing film, TV and international businesses from Twenty-First Century Fox Inc (FOXA.O).

Regulators are reviewing the deal, which has been complicated by Comcast Corp’s (CMCSA.O) offer for one of the assets, Britain’s Sky Plc (SKYB.L).

Disney also combined its theme parks business with the consumer products unit that licenses characters for toys, apparel and other merchandise. Bob Chapek, who heads the parks division, will lead the combined unit.